Sensex, Nifty outlook for tomorrow, 25 March: US futures, Gift Nifty & stock market levels to watch
Nifty outlook: Rupak De, Senior Technical Analyst at LKP Securities said Nifty closed with an indecisive candle, indicating that the direction of the next move remains uncertain.
- Mar 24, 2026,
- Updated Mar 24, 2026 7:47 PM IST
Benchmark stock indices Sensex and Nifty climbed 1.8-1.9 per cent on Tuesday in a relief rally, even as conflicting views emerged regarding the US-Iran talks. Will the bulls gain further ground on Wednesday is to be seen, as technical charts still signal caution, S&P500 and Dow Jones futures hinted at flattish start for US market later in the day, and Gift Nifty also turned flat.
Nifty outlook Technically, the structure remains weak as Nifty is still trading below its 10-DEMA, indicating that the pullback is corrective in nature, said Dhupesh Dhameja of SAMCO Securities.
Momentum indicators are improving, with RSI rebounding from oversold territory, though still below the bullish zone, suggesting recovery is in early stages. India VIX cooled off nearly 7 per cent but remains elevated near 24, highlighting continued volatility and sharp intraday swings.
Dow Jones and S&P500 futures for June delivery were down 0.18 per cent each. Gift Nifty last quoted at 22,922, down 0.11 per cent.
Earlier in the day, Sensex closed the day at 74,068.45, up 1,372.06 points or 1.89 per cent. Nifty closed at 22,912.40, up 399.75 points or 1.78 per cent.
"From a derivatives perspective, PCR near 1.05 reflects balanced positioning, with significant OI buildup at the 23,000 strike on both call and put sides, marking it as a decisive pivot for the near term. Call writers remain active above 23,000–23,200, while put writers are building support near 22,700–22,500, indicating a defined range of 22,500–23,200. Until the index sustains above 23,200 and reclaims the 10-DEMA, sell-on-rise strategy remains favourable strategy," Dhameja said.
Nifty needs to show strength by sustaining above the crucial hurdles like 23,500-23,600 levels to consider this as a near term bottom reversal pattern, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"Any failure to sustain the highs at the hurdle could possibly drag Nifty down to 22600-22500 levels again in the near term," he said.
Rupak De, Senior Technical Analyst at LKP Securities said Nifty closed with an indecisive candle, indicating that the direction of the next move remains uncertain. "It appears that much will depend on Wednesday’s opening. A negative opening may create bearish sentiment in the market, while a positive opening could indicate positive sentiment for the short term."
Sensex outlook From a technical perspective, Sensex has delivered a strong rebound from lower levels, highlighting active demand near support zones and signaling the possibility of a short-term base formation, provided follow-through buying continues in subsequent sessions, said Hitesh Tailor, Technical Research Analyst at Choice Equity Broking.
"On the technical front, the index continues to trade near key lower levels, reflecting a cautious undertone with limited upside visibility in the near term. The 73,500–73,600 band acts as an immediate demand zone where dip-buying interest may emerge on any pullback, while the 74,500–74,600 range stands as the immediate resistance hurdle, where upside is likely to face supply pressure and profit booking," Tailor said.
The analyst said the near-term outlook has turned cautiously positive. But, the sustainability of the rally will depend on the Sensex holding above key support levels and witnessing consistent follow-through buying on the upside to reinforce upward momentum.
Factors to watch Siddhartha Khemka - Head of Research, Wealth Management at Motilal Oswal Financial Services said despite the recovery, the currency remains under pressure due to elevated oil prices, persistent foreign fund outflows and ongoing geopolitical uncertainties.
"Going ahead, key factors to monitor for market direction will include movements in crude oil prices, trends in Foreign Institutional Investor flows, and developments in United States–Iran negotiations, which are likely to be the primary drivers in the near term," he said.
Benchmark stock indices Sensex and Nifty climbed 1.8-1.9 per cent on Tuesday in a relief rally, even as conflicting views emerged regarding the US-Iran talks. Will the bulls gain further ground on Wednesday is to be seen, as technical charts still signal caution, S&P500 and Dow Jones futures hinted at flattish start for US market later in the day, and Gift Nifty also turned flat.
Nifty outlook Technically, the structure remains weak as Nifty is still trading below its 10-DEMA, indicating that the pullback is corrective in nature, said Dhupesh Dhameja of SAMCO Securities.
Momentum indicators are improving, with RSI rebounding from oversold territory, though still below the bullish zone, suggesting recovery is in early stages. India VIX cooled off nearly 7 per cent but remains elevated near 24, highlighting continued volatility and sharp intraday swings.
Dow Jones and S&P500 futures for June delivery were down 0.18 per cent each. Gift Nifty last quoted at 22,922, down 0.11 per cent.
Earlier in the day, Sensex closed the day at 74,068.45, up 1,372.06 points or 1.89 per cent. Nifty closed at 22,912.40, up 399.75 points or 1.78 per cent.
"From a derivatives perspective, PCR near 1.05 reflects balanced positioning, with significant OI buildup at the 23,000 strike on both call and put sides, marking it as a decisive pivot for the near term. Call writers remain active above 23,000–23,200, while put writers are building support near 22,700–22,500, indicating a defined range of 22,500–23,200. Until the index sustains above 23,200 and reclaims the 10-DEMA, sell-on-rise strategy remains favourable strategy," Dhameja said.
Nifty needs to show strength by sustaining above the crucial hurdles like 23,500-23,600 levels to consider this as a near term bottom reversal pattern, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"Any failure to sustain the highs at the hurdle could possibly drag Nifty down to 22600-22500 levels again in the near term," he said.
Rupak De, Senior Technical Analyst at LKP Securities said Nifty closed with an indecisive candle, indicating that the direction of the next move remains uncertain. "It appears that much will depend on Wednesday’s opening. A negative opening may create bearish sentiment in the market, while a positive opening could indicate positive sentiment for the short term."
Sensex outlook From a technical perspective, Sensex has delivered a strong rebound from lower levels, highlighting active demand near support zones and signaling the possibility of a short-term base formation, provided follow-through buying continues in subsequent sessions, said Hitesh Tailor, Technical Research Analyst at Choice Equity Broking.
"On the technical front, the index continues to trade near key lower levels, reflecting a cautious undertone with limited upside visibility in the near term. The 73,500–73,600 band acts as an immediate demand zone where dip-buying interest may emerge on any pullback, while the 74,500–74,600 range stands as the immediate resistance hurdle, where upside is likely to face supply pressure and profit booking," Tailor said.
The analyst said the near-term outlook has turned cautiously positive. But, the sustainability of the rally will depend on the Sensex holding above key support levels and witnessing consistent follow-through buying on the upside to reinforce upward momentum.
Factors to watch Siddhartha Khemka - Head of Research, Wealth Management at Motilal Oswal Financial Services said despite the recovery, the currency remains under pressure due to elevated oil prices, persistent foreign fund outflows and ongoing geopolitical uncertainties.
"Going ahead, key factors to monitor for market direction will include movements in crude oil prices, trends in Foreign Institutional Investor flows, and developments in United States–Iran negotiations, which are likely to be the primary drivers in the near term," he said.